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. >> talk about warren buffett, always willing to stir the pot. op-ed in the "new york times" this morning, he says that the rich pay a lower tax rate on their incomes than the middle class does. it's a point he's made before. as robert frank points out, what mr. buffett does not mention is that, on average, very few americans actually pay their official tax rate. >> that's right. we're going to get into this a lot more on "street signs." people can read it on cnbc.com today. the other important point to make on this, it is just not a lot of money and it is not a lot of people. it is sort of a minor problem in the grand scheme of the economy. it is really about .1% of the taxpayers and it's maybe $5 billion to $10 billion a year. relative to a $1 trillion deficit -- not saying it's nothing, but it's just such a tiny amount -- >> people at his income level are paying that. >> i have to say, if we're going to have a big tax debate, let's have one that really matters, now about this warren buffett rule which won't raise enough revenue to make a dime'
. >> talk about warren buffett, always willing to stir the pot. op-ed in the "new york times" this morning, he says that the rich pay a lower tax rate on their incomes than the middle class does. it's a point he's made before. as robert frank points out, what mr. buffett does not mention is that, on average, very few americans actually pay their official tax rate. >> that's right. we're going to get into this a lot more on "street signs." people can read it on...
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warren buffett on practically everything 1966-2012. good morning. >> thanks for having us. >> great to be here. >> you've known warren buffett for over 45 years, you have a long friendship and you're somebody who knows probably his take on business better than anybody out in the world. people have been waiting for a book like this. >> right. >> you talk to him every day and in putting this book together is there anything you learned or anything you were able to say this was something i haven't thought about in a while? >> i learned how good he is. the brilliance and this new ideas that keep coming up. but i think the thing i was most struck by was how consistent his thinking has been as he's gone through these years. in the early part of the book when he is advising grinnell college the investments and endowment fund. he is staying off to the side while grinnell decides to invest, to invest in intel, he went to grinnell. and so grinnell is making an investment in intel, but warren is just standing off to the side saying i don't underst
warren buffett on practically everything 1966-2012. good morning. >> thanks for having us. >> great to be here. >> you've known warren buffett for over 45 years, you have a long friendship and you're somebody who knows probably his take on business better than anybody out in the world. people have been waiting for a book like this. >> right. >> you talk to him every day and in putting this book together is there anything you learned or anything you were able to say...
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Nov 27, 2012
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warren buffett when it comes to investing. but, but you got to know your strength and you got to know your weaknesses. that said, i wouldn't take ping-pong lessons from mr. buffett. take a look here. here is another thing i wouldn't do. i wouldn't listen to the oracle of omaha on this. >> ♪ i've been working on the railroad all the live long day ♪ ♪ i've been working on the railroad just to pass the time away ♪ ♪ dinah won't you blow ♪ dinah won't you blow your horn ♪ [ laughter ] >> eric: so now warren buffett wants to weigh in on taxes. politics and americans need to hand over more of our dough. mr. buffett, oh, sage one. put down the ping-pong paddle and the ukulele and the tax plan. the gift is with profit margins, ebidah. the man, fantastic investor, but he is suggesting a minimum tax, to raise etch's wealth. wealthy people's taxes to trickle down to everywhere else. i can't imagine the economy can handle that. >> dana: i have very little patience for the extremely rich who want to make it harder for other p
warren buffett when it comes to investing. but, but you got to know your strength and you got to know your weaknesses. that said, i wouldn't take ping-pong lessons from mr. buffett. take a look here. here is another thing i wouldn't do. i wouldn't listen to the oracle of omaha on this. >> ♪ i've been working on the railroad all the live long day ♪ ♪ i've been working on the railroad just to pass the time away ♪ ♪ dinah won't you blow ♪ dinah won't you blow your horn ♪ [...
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dagen: we will stay on the topic of warren buffett and taxes. should the cut off the $500,000 not $250,000 as the president wants. would that ease some of the burden and pain of higher taxes? >> on one level it would, of course. raising that threshold from $250,000 to $500,000. the buffet idea maybe release a little bit of pain, but does nothing to address the extortions that he is talking about. huge distortions. 160,000 pages of distortions in the tax code. you were talking about a tiny, tiny improvement. i will take it, sure. we are getting distracted on this one. dagen: connell was talking about a minimum tax on the wealthy. he starts out $1 billion a year. 30%. a good idea in the abstract? then he starts talking about his brother in. those are multi billionaires, dude. >> i mean, i think these are all legitimate questions. we have this great opportunity to do tax reform. to clean up the tax code. get rid of some of the provisions. should we give tax rates for second homes, for vacation homes? probably not. the reality is a lot of things lik
dagen: we will stay on the topic of warren buffett and taxes. should the cut off the $500,000 not $250,000 as the president wants. would that ease some of the burden and pain of higher taxes? >> on one level it would, of course. raising that threshold from $250,000 to $500,000. the buffet idea maybe release a little bit of pain, but does nothing to address the extortions that he is talking about. huge distortions. 160,000 pages of distortions in the tax code. you were talking about a...
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okay. >>> let's take a look now at today's "new york times" op-ed by warren buffett. that headline is sure to fuel the debate over taxing the rich. welt reporter robert frank knows a thing or two about that. he's here with one -- what would you say? important problem? >> just a caveat, a little bit of context to help inform this debate. now the premise of the buffett rule and this op-ed is that the rich pay a lower tax rate than the rest of america. in this op-ed he points out that half of america's top 400 earners pay a rate of less than 20%. that's far less than the official top tax rate of 35%. now the buffett rule he says would restore fairness, make those making $1 million or more pay at least 30% in an effective tax rate. what we fail to mention here, what he fails to mention is that the rich already pay a higher rate than the rest of the population. when you look nationally. the effective tax rate -- that's the amount people actually pay -- averages 20.4% for people making $1 million or more. people making $30,000 to $50,000 pay an average rate of 4.8%. people
okay. >>> let's take a look now at today's "new york times" op-ed by warren buffett. that headline is sure to fuel the debate over taxing the rich. welt reporter robert frank knows a thing or two about that. he's here with one -- what would you say? important problem? >> just a caveat, a little bit of context to help inform this debate. now the premise of the buffett rule and this op-ed is that the rich pay a lower tax rate than the rest of america. in this op-ed he...
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Nov 28, 2012
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says warren buffett. >> oh, come on. first of all, warren buffett has other issues at hand. the reality is he's not holding the government to the same standards he would hold his investments. to cast that aside for a second, the problem is, piers, is the amount that we're talking about. when we look at for example the payroll tax cut and the obama care tax, if you put those two things together, that's over 1% of the gdp. if you throw in then the top 1% or 2% earners, that's going to put is at 1.5% or 2% of the gdp which is not a sustainable amount of tax hikes given the fact that we're in a sluggish growth period. i think that warren buffett certainly understands that. you know what mr. buffet chld tchldt, if you want to add in more refr new, go ahead. why not make this something of choice. if you feel like you can help, go ahead. put some extra money in. >> that's completely -- look, nobody has any guns to anybody's head. we have a common problem. it's called a budget deficit, particularly in out years. we have some common responsibilities and when you do consider that the
says warren buffett. >> oh, come on. first of all, warren buffett has other issues at hand. the reality is he's not holding the government to the same standards he would hold his investments. to cast that aside for a second, the problem is, piers, is the amount that we're talking about. when we look at for example the payroll tax cut and the obama care tax, if you put those two things together, that's over 1% of the gdp. if you throw in then the top 1% or 2% earners, that's going to put...
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click or call. >>> in on op-ed today, warren buffett insisted that slightly higher tax rates will in fact not deter the rich from becoming much richer. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses, if gas cap pal gains rates and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. none will say well, it all depends on what my tax rate will be. only in grover norquist's imagination does such a response exist. it's true. for ultra rich warren buffett and as pointed out previously, it is true for bill o'reilly and rush limbaugh. buffett supports a minimum 30% federal tax on incomes over 1 million and a minimum 35% tax rates on incomes over 10 million. at the white house today, jay carney issued this challenge. >> the reality is closing loopholes and ending deductions as an alternative to raising rates on the top earners, those making over $250,000 sounds good, but you have to look at the proposal. math tells us that you can't get the balance you need without having rat
click or call. >>> in on op-ed today, warren buffett insisted that slightly higher tax rates will in fact not deter the rich from becoming much richer. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses, if gas cap pal gains rates and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. none will say well, it all depends on what my tax rate will be. only in grover...
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. >> you saw warren buffett this morning. >> some interesting points. he had an alternative minimum tax he had been talking about for the really wealthy. >> 30% or something. >> anybody from 1 to $10 million. also talked a little bit about raising the -- >> same thing he's been saying all along. >> he added that when it comes to who should be paying the higher taxes, he wants the threshold to be $500,000. >> and you see steven rattner on on talking about capital gains, deductions and things you've talked about a lot. >> time for the global markets report. ross westgate totally still confuse aed about thanksgiving and pilgrims. what was all the hoopla about? you celebrate boxing or something, don't you? like we lost a great boxer. is that what you celebrate? what is boxing day? >> boxing day, the day of a christmas. >> you wrap all your presents in boxes? >> i think it's something to do with all the presents. i'm not quite sure. >> yeah, put them in boxes. >> maybe. >> so you ignored our thanksgiving. but feeling okay again? >> yeah. you know, it's okay.
. >> you saw warren buffett this morning. >> some interesting points. he had an alternative minimum tax he had been talking about for the really wealthy. >> 30% or something. >> anybody from 1 to $10 million. also talked a little bit about raising the -- >> same thing he's been saying all along. >> he added that when it comes to who should be paying the higher taxes, he wants the threshold to be $500,000. >> and you see steven rattner on on talking...
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you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax for rich people. >> a combination of those two. we've got a lot more to talk about with you. monday night football highlights the eagles showing they don't need michael vick to lose a football game. will coach andy reid survive another week? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. fre
you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax...
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warren buffett renewing his call for a millionaire's tax. our next guest says you can raise taxes all day and not make a dent in the debt without doing one more thing. >>> later, the battle inside the democratic caucus. how ways and means senator levin explaining why democrats willing to jump off the cliff are making a huge mistake. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trad
warren buffett renewing his call for a millionaire's tax. our next guest says you can raise taxes all day and not make a dent in the debt without doing one more thing. >>> later, the battle inside the democratic caucus. how ways and means senator levin explaining why democrats willing to jump off the cliff are making a huge mistake. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from...
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warren buffett will join us to talk about the looming fiscal cliff and the buffett tax. you can't afford to mix "squawk box" starting tomorrow at 6:00 a.m. eastern. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ ♪ well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico. chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? >>> welcome back. making headlines, conagra foods obtaining ralcorp for cash. ralcorp chose to spin off its post cereal business but we do have a
warren buffett will join us to talk about the looming fiscal cliff and the buffett tax. you can't afford to mix "squawk box" starting tomorrow at 6:00 a.m. eastern. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ ♪ well that was uncalled for. folks who save hundreds of dollars switching to geico...
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warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered by retailers on black friday. worries about the fiscal cliff, greece of combining for a market that pretty much went nowhere today. the dow jones industrials down 42. as into down treatment nasdaq rose ten. the sixth day in a row in which the nasdaq has gained. light trading on the big board. concerns about increases in taxes on dividends for the high-yield dividend stocks of late. today at&t and verizon down, both with dividend yields of just about 5%. most retailers lower on the day despite good news on the holiday shopping weekend. target and walmart among
warren buffett takes on grover norquist. who is right? former cbo director douglas cosecant joins us next. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered...
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warren buffett talking about going over. probably going to happen in january. i feel like we're going to go over. you can meet with all of the ceos you want to. doesn't really matter. 200,000 people in a room. doesn't really matter. norquist saying don't have a deal. have to raise taxes. democrats don't seem to favor lowered defense budget and favor higher taxes for the rich and so we're done. i think we're done. >> after durbin speoke yesterda, if you're going to get a blueprint, he doesn't want entitlements be part of it for next year. >> it's the 1,000-point solution. maybe that will change their mind. durbin said no. norquist is saying no tax increase. what else is there? am i missing something? what am i missing? blankfe >> stallen made a lot of sense. mass murderer about you doesn't mean he didn't make sense. >> blankfein, kent, mayer, roberts of comcast. is there anything these guys can say to change their tune? to get people -- >> we're just past thanksgiving. let's give it a little time. things can change. we've seen lots of back and forth. everybody i
warren buffett talking about going over. probably going to happen in january. i feel like we're going to go over. you can meet with all of the ceos you want to. doesn't really matter. 200,000 people in a room. doesn't really matter. norquist saying don't have a deal. have to raise taxes. democrats don't seem to favor lowered defense budget and favor higher taxes for the rich and so we're done. i think we're done. >> after durbin speoke yesterda, if you're going to get a blueprint, he...
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jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a trading blunder. cyber monday could almost be re- named "mobile monday." a growing number of consumers used their smartphones and tablets to shop on cyber monday this year. it contributed to an overall bump in sales of 30% from last year. comscore is estimating that sales will reach a whopping 1.5 billion dollars. amazon's kindle fire was the day's most searched-for gift on the web. others that were high in demand were uggs, ipads, the ipod touch, legos, and the wii. some consumers did not get what they bargained for this cyber monday. 132 websites in the u.s. and europe were shu
jamie dimon is getting public praise from billionaire warren buffett. this week on charlie rose, mr. buffett said he thinks mr. dimon could be the "best person for the job" after treasury secretary timothy geithner steps down. mr. buffett notes that dimon could deftly handle another financial crisis, even though jp morgan was forced to take a government bailout during the financial crisis and dimon came under question earlier this year, when the bank lost 6 billion dollars in a...
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. >> warren buffett wrote this fascinating piece in the "new york times" today. you're familiar with it today. suppose they come to you with an investment idea. i'm in it. i think you should be, too. would your reply be this? it depends on what my tax rate is on the gain we're going to make. if the tax isn't too high, i'd rather leave the money in my savings account. war len buff set says only in norquist imagine kwis. why are you so concerned about protecting the vast wealth of america's small percentage of increasingly rich people? why do you care? >> i'm in favor of not raising taxes on all the american people and as you know the american people quite rightly understand that politicians who say i tax the rich have not finished the sentence. the sentence runs i'm going to tax the rich first and then i'm coming for the middle class. obama said he would tax people na mate that make over $250,000 a year. in 2012 he changed the promise. he didn't proposition people he won't raise taxes on you if you make less than $200,000. the new promise and repeated ever since.
. >> warren buffett wrote this fascinating piece in the "new york times" today. you're familiar with it today. suppose they come to you with an investment idea. i'm in it. i think you should be, too. would your reply be this? it depends on what my tax rate is on the gain we're going to make. if the tax isn't too high, i'd rather leave the money in my savings account. war len buff set says only in norquist imagine kwis. why are you so concerned about protecting the vast wealth of...
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. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many periods with much higher tax rates, it's never made a dicky bird's difference to people's willingness to invest and that the combination of reduced spending and a few higher taxes for the wealthier people in america is the perfect answer. i just don't get a coherent argument why you can't do a bit of both. >> here's the issue, is that we have never had a period with more than 1% of the gdp in terms of tax hikes since 1969. that was the last time that happened and that put us into a recession and then we had several decades of increasing unemployment. the amount of tax hikes we're talking about here, piers, are about 3% of the gdp. so you're comparing apples to oranges. you can't say well, under clinton, this didn't happen. that was less than 1% of the gdp. we're talking three times that
. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many periods with much higher tax rates, it's never made a dicky bird's difference to people's willingness to invest and that the combination of reduced spending and a few higher taxes for the wealthier people in america is the...
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. >> reporter: the president's tax plans got some support from legendary investor warren buffett today. writing in the new york times, buffett says higher taxes won't lead the wealthy to go on strike and give up promising investment opportunities. darren gersh, "n.b.r.," washington. >> tom: talk of the fiscal cliff threat didn't seem to hurt cyber monday, the biggest online shopping day of the year. americans are expected to spend $1.5 billion online today according to research firm comscore. that's up 20% from last year, as retailers pull out all the stops to get shoppers to click on their websites. erika miller has more. >> reporter: many americans were hard at work today. but others were hardly working-- using high speed office computers to scour the internet for bargains. others browsed at retail stores, but used mobile phones and tablets to make their purchases online. >> but internet shopping is more than just price comparison this year. it's about going shopping with friends and family even when they're not there. >> it makes them feel better about shopping when they are accessi
. >> reporter: the president's tax plans got some support from legendary investor warren buffett today. writing in the new york times, buffett says higher taxes won't lead the wealthy to go on strike and give up promising investment opportunities. darren gersh, "n.b.r.," washington. >> tom: talk of the fiscal cliff threat didn't seem to hurt cyber monday, the biggest online shopping day of the year. americans are expected to spend $1.5 billion online today according to...
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buffett was on cnbc earlier this week and he said you really should not be investing in companies based on tax breaks. do you agree with that? >> i agree 100%. you certainly shouldn't play a stock because you think they may pay a special dividend or that they may increase a dividend. s&p 500's got a pile of cash. corporate america has $2 trillion in cash on the balance sheets. they're going it either pay dividends or buy back their shares or do some type of acquisitions over the next period of time. investing for that is probably a bad idea. but if you own a company which you like a lot, you like the fundamentals, you think they are a market leader in their industry, then regardless of whether you pay 35% or 40%, you don't make an investment decision based on that in terms of taxes. yeah, there is a lot of nose of what's going on in dividends right now. it makes a lot of sense to get that done in 2012 versus 2013 but you shouldn't base an investment decision on it. >> art and steve, gentlemen, both, thank you very much. have a great weekend, guys. >> have a great weekend? it's thursday!
buffett was on cnbc earlier this week and he said you really should not be investing in companies based on tax breaks. do you agree with that? >> i agree 100%. you certainly shouldn't play a stock because you think they may pay a special dividend or that they may increase a dividend. s&p 500's got a pile of cash. corporate america has $2 trillion in cash on the balance sheets. they're going it either pay dividends or buy back their shares or do some type of acquisitions over the next...
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. >>> plus warren buffett saying earlier on cnbc saying under his plan he'd pay a 35% tax on all the money he earns. good move? we'll discuss it when we come back. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. >>> all three of the major indices in the green with the dow leading the way up 66 points on the trading session or .5%. >>> down to the nyse floor, trading action there, bob pisani is back with us. bob, they've been watching washington but what else is on the radar screen today? >> the market really does move exactly on the head
. >>> plus warren buffett saying earlier on cnbc saying under his plan he'd pay a 35% tax on all the money he earns. good move? we'll discuss it when we come back. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [...
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warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
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but if you're a long-term investor -- remember, warren buffett is very bullish on u.s. stocks because he believes in company. this could be a buying opportunity because things have drop add lot. >> well, stephanie, speaking of warren buffett hr, he had an op, sort of laying the idea that the've wealthy would throw a hissy fit, would not invest if they were to increase a couple of points. he wrote, so let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gaines rates and yord nan income rates are increased. the ultra rich, including me, will forever pursue investment opportunities. why is there such a hang-up even to the point that republicans have signals willingness to find revenue in other places as lodge as they do not actually increase the rates? >> i think the hang-up is broader than that. and what mr. buffet is asking for simplicity. as far as investors go, they simply want things to be resolved because again unless there's clarity in the future, you're just not going to see much happenin
but if you're a long-term investor -- remember, warren buffett is very bullish on u.s. stocks because he believes in company. this could be a buying opportunity because things have drop add lot. >> well, stephanie, speaking of warren buffett hr, he had an op, sort of laying the idea that the've wealthy would throw a hissy fit, would not invest if they were to increase a couple of points. he wrote, so let's forget about the rich and ultra rich going on strike and stuffing their ample funds...
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so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on "andrea mitchell reports." a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... wi
so i'm all for that. >> the book is "tap dancing to work warren buffett on practically everything" the oracle of omaha. we appreciate you're coming on today. look forward to seeing you soon. >> thank you for having me. >>> two nfl players leaving lucative contracts behind in search of something higher, their story next on "andrea mitchell reports." a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the...
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it's not just mitt romney and warren buffett. the damage is spread around. the downside risk to this is very steep, hearing a lot of talk about folks wanting to do some other things. diversification getting out of these dividend paying stocks and into things like corporate bonds and munis. forget about the fiscal cliff for now. the income cliff, if you're an investor who's living off of dividend income, senior citizen, whatever, you are a tremendous risk here. >> david, all you have to look at it the news we just brought you some 15 minutes ago. that disney is now raising the dividend payable december 28th. why? because it's a few days before the fiscal cliff. today, costco, walmart, las vegas sands, dil lards. the list goes on and on. it's been a tidal wave. it's important to everybody. that's why they're doing it. >> let me just correct a couple things jeff said. first of all, what president obama is proposing is to just raise those dividend taxes on people making over $it -- $200,000 or $250,000. the ordinary retiree is not going to be hit by this at all.
it's not just mitt romney and warren buffett. the damage is spread around. the downside risk to this is very steep, hearing a lot of talk about folks wanting to do some other things. diversification getting out of these dividend paying stocks and into things like corporate bonds and munis. forget about the fiscal cliff for now. the income cliff, if you're an investor who's living off of dividend income, senior citizen, whatever, you are a tremendous risk here. >> david, all you have to...
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do the markets care when you see the ceos and some of the wealthier people, including warren buffett today in the "times" saying, look, we have got to raise revenues by raising some taxes on wealthy individuals. we saw that from both buffet and radner, very prom negligent well-known financiers but ultimately endorsing what sounds like the obama position. do the markets look to those steps the way we do in politics and say this is more likely to get done or does it not work that way? >> look, the market is hanging on every single development in these negotiations. a couple of days ago leaders came out of the white house and said they had a pretty conciliatory meeting and everything seemed hunky dory at least in that one meeting and the market boomed. people are watching and waiting to see what's happened here. you've got a split on wall street. there are those folks who don't want to see tax increases no matter what under any circumstances ever. and then you have other folks like lloyd blankfein who said they don't mind tax increases on the wealthy as long as it helps us to get to a d
do the markets care when you see the ceos and some of the wealthier people, including warren buffett today in the "times" saying, look, we have got to raise revenues by raising some taxes on wealthy individuals. we saw that from both buffet and radner, very prom negligent well-known financiers but ultimately endorsing what sounds like the obama position. do the markets look to those steps the way we do in politics and say this is more likely to get done or does it not work that way?...
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coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ] for everything they need to hear, there's a hallmark card. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ man ] and what did you think? i loved it. why? 'cause it's a toyota, of course! i want a car that's gonna last me for a little while. ♪ i like the bells and whistles. that's my favorite part about the car. i like the navigation. i like the entune. and it's fast. [ male an
coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ]...
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the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senators lindsey graham, saxby chambliss, congressman peter king among other republicans who said they'd be willing to break away from grover norquist's anti-tax pledge. will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal
the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to...
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. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you know, he was the one that in a way started all this, susan, because he talked about he shouldn't pay a lower tax rate than his secretary. now he's saying that taxes should rise, maybe for people making over $500,000 a year. a lot of republicans loved him for his business sense, but have they stopped listening to him now? >> well, and of course, if you raise the minimum tax on millionaires, i think americans would be all for that. the trouble is, it doesn't really raise you enough money, not the kind of money we're talking about. and even going down to $500,000, the reason that the level's been set at $250,000 per household by the w
. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you know, he was...
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warren buffett says raise tax rates on incomes over a half million dollars, that's a shift. but the president and democrats are not moving and they still say raise tax rates on the rich. on-line shopping, a very big winner and very big for retailers. 13% better than last year overall. today, on-line sales may run close to 2 billion dollars. will it last through the holidays? we've got another north african economy in absolute chaos. egypt torn by rioting after morsi takes dictatorial powers. they really need our money now. watch out, everybody, "varney & company" is about to begin. get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement peopl who are paid on sary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >> as we said, call it a cave. call it a shift. call i
warren buffett says raise tax rates on incomes over a half million dollars, that's a shift. but the president and democrats are not moving and they still say raise tax rates on the rich. on-line shopping, a very big winner and very big for retailers. 13% better than last year overall. today, on-line sales may run close to 2 billion dollars. will it last through the holidays? we've got another north african economy in absolute chaos. egypt torn by rioting after morsi takes dictatorial powers....
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warren buffett taking a jab at norquist this morning in an op-ed in the "times." he says let's forget about the rich and ultrarich going on strike and stuffing ample funds under their mattresses if capital gains are increased. ultrarich will forever pursue investment opportunities. >> i thought that was right. i thought it was right. we always hear job creators. i started a lot of businesses. they never make any money at the beginning. i don't want -- a great line there. i don't want to be so successful i have to pay a lot of taxes. that's stupid. that's something from someone who never ran a business. the late george mcgovern where he discovered how hard it was to be a businessman, you don't create a job. you create a job for tremendous success but you accept losses at the beginning. you never take an investment and say i don't want to do that because i'm afraid i'll have to pay taxes. you just don't. >> regulation sort of dealing with a lot of red tape which we also hear about as an impediment. >> that's a big problem because you don't have the resources typical
warren buffett taking a jab at norquist this morning in an op-ed in the "times." he says let's forget about the rich and ultrarich going on strike and stuffing ample funds under their mattresses if capital gains are increased. ultrarich will forever pursue investment opportunities. >> i thought that was right. i thought it was right. we always hear job creators. i started a lot of businesses. they never make any money at the beginning. i don't want -- a great line there. i don't...
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you know, i liked warren buffett's op-ed the other day in the "time"s. a minimum tax for the wealthy. we're going to get to a couple quotes in that in a minute. the beginning promi inning prem issue with. warren buffett lays out a notion once again how crazy grover norquist is because taxation doesn't really affect financial behavior. we could argue about that to the extent of degrees. but i would say two things. first of all, on grover norquist, you know, if you get married in front of a minister, priest or rabbi and you say your oath, and then a year later you don't like your wife anymore, do you go find that priest, minister or rabbi and beat them up and say, listen, get me out of this pledge! no. you made the pledge. it isn't the rabbi, the minister or the priest's fault. if you want to go back on your marriage, that's your decision. grover norquist really isn't the issue here. let's take it a step further. today we had mr. frank who i like with his wealth reports talk about all the behavior that is changing because of the fiscal cliff. patty dom wri
you know, i liked warren buffett's op-ed the other day in the "time"s. a minimum tax for the wealthy. we're going to get to a couple quotes in that in a minute. the beginning promi inning prem issue with. warren buffett lays out a notion once again how crazy grover norquist is because taxation doesn't really affect financial behavior. we could argue about that to the extent of degrees. but i would say two things. first of all, on grover norquist, you know, if you get married in front...
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. >> i think -- you know, i listened to warren buffett yesterday and i look at what's going on with these dividend deals. even at these wide stages of previous times don't see to acknowledge the realities of how tax policy alters our behavior. >> right. all right. rick santelli, thanks. steve, thanks. >> when we come back, rising above partisan politics to avoid the fiscal cliff. we will ask senator orrin hatch what each side should give up to try to avoid a debt disaster. "squawk" will be right back. n ts from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> can entitlement reform be the answer to avoid going over the fiscal clfr? senator orrin hatch things so. senator hatch, thank you very much for joining us this morning. >> happy to do so. >> you kn
. >> i think -- you know, i listened to warren buffett yesterday and i look at what's going on with these dividend deals. even at these wide stages of previous times don't see to acknowledge the realities of how tax policy alters our behavior. >> right. all right. rick santelli, thanks. steve, thanks. >> when we come back, rising above partisan politics to avoid the fiscal cliff. we will ask senator orrin hatch what each side should give up to try to avoid a debt disaster....
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in fact, this morning we spoke with warren buffett about this very issue. he thinks there's a real chance we will get some sort of a deal but maybe not necessarily by december 31st. he thinks the middle of the party could work out a deal. they will go kicking and screaming and if the leadership feels they will lose their leadership position, that could make them drag their heels as well and not get a deal as quickly. if we go over december 31st, we'll see what happens with the markets at that point. >> dow 8,000. becky quick, sorry. thank you. >> reporter: thank you. >> up next, are republicans and conservatives on the verge of a breakup? >>> the republican party needs conservatives but do conservatives need the republican party? today we're taking a deep dive into where the two overlap and where they don't. go back to this past spring, just a month or so after mitt romney secured the nomination. author and veteran craig shirley wrote something that caught a lot of our eyes saying the party itself had about become nothing more than what suits the cause at t
in fact, this morning we spoke with warren buffett about this very issue. he thinks there's a real chance we will get some sort of a deal but maybe not necessarily by december 31st. he thinks the middle of the party could work out a deal. they will go kicking and screaming and if the leadership feels they will lose their leadership position, that could make them drag their heels as well and not get a deal as quickly. if we go over december 31st, we'll see what happens with the markets at that...
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most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans listen? >> well, it's a sensible way. if we're going to have a deal, we will have to see some kind of compromise. a minimum tax on people making over $1 million a year can generate a half it trillion in a ten-year scale. if you include deductions you don't necessarily have to go to 39%. you can go to 37% if you are looking for compromise. but i think there's a bigger issue here as well, and that is the idea this is a slightly critical towards the democrats, the biggest issue that this country faces right now is getting us back to 4% economic growth, 3% or 4% economic growth and seeing wages increa
most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans...
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about this country. >> i never like to go against warren buffett. some say vernon hills bank had regulator problems in philadelphia. i just know that one guy is boots on the ground and other guy is boots in omaha. i think there's a difference. omaha very wealthy area by the way. >> speaking of banks and future for banks, where does the fiscal cliff fit in? stick around for santelli's live interview with sheila bair. up next -- ♪ >> coming up, jim cramer is rested. jim cramer is revved up. jim cramer is ready. six stocks in 60 seconds when "squawk on the street" returns. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in th
about this country. >> i never like to go against warren buffett. some say vernon hills bank had regulator problems in philadelphia. i just know that one guy is boots on the ground and other guy is boots in omaha. i think there's a difference. omaha very wealthy area by the way. >> speaking of banks and future for banks, where does the fiscal cliff fit in? stick around for santelli's live interview with sheila bair. up next -- ♪ >> coming up, jim cramer is rested. jim cramer...
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i was commenting on may interview with warren buffett and matt lauer where matt lauer asked him about the wealthiest paying more taxes and stuff. warren buffett said that if the wealthy pay more in taxes then that will give a morale boost to the middle class. how is a morale boost going to help the middle class pay their electric bill and food bill? i thought that was interesting. thank you. guest: i did not think the president thinks we should raise taxes on the top two tax brackets for a morale boost. he says they should do their fair share to help the deficit. host: david in new york. caller: good morning. if we could look back at the beginning of this problem and examine where this debt started to accumulate. in 1980, our national debt was $889 billion. at the end of the bush administration, it was $4.7 trillion. if we keep borrowing money at this rate and that had need to the rich and taking it away from the middle class, it is in a losing combination. people can have a full-time job working for walmart i have to go on food stamps and welfare, there is something wrong with the sy
i was commenting on may interview with warren buffett and matt lauer where matt lauer asked him about the wealthiest paying more taxes and stuff. warren buffett said that if the wealthy pay more in taxes then that will give a morale boost to the middle class. how is a morale boost going to help the middle class pay their electric bill and food bill? i thought that was interesting. thank you. guest: i did not think the president thinks we should raise taxes on the top two tax brackets for a...
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and if you were going to analyze them warren buffett style would be quite attractive. what are they and what are the key characteristics? >> we had a report out called raining cash and still raining cash over the last couple of years and we published a new report just a couple of weeks ago called macao's checklist. we're basically saying the reason why you should be owning these stocks going forward is because of the dividend yield. these stocks are generated a huge a free cash flow over the last couple years and now they're looking to pay quite high dividends of about 10%. so we think that's a strong reason to own the is to bes going forward. so it's hard to think about macao as a safe place to be, but as we've highlighted in the report and using buffett as a proxy, it takes a lot of the boxes. so the companies have strong balance sheets. they're basically net cash now. they have high 33% and also generating huge free cash throw. and if you think about the six companies in hong kong, you have three that pay down at that level. so we believe it's very sustainable. >> t
and if you were going to analyze them warren buffett style would be quite attractive. what are they and what are the key characteristics? >> we had a report out called raining cash and still raining cash over the last couple of years and we published a new report just a couple of weeks ago called macao's checklist. we're basically saying the reason why you should be owning these stocks going forward is because of the dividend yield. these stocks are generated a huge a free cash flow over...
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we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and, andrea, a bigger question, as we go to a new congress, is john mccain going to continue to have the disproportionate impact that he has on foreign policy in the republican senate caucus? mika and i talked to so many people over the past two, three years that say we want, republican senators, we want out of afghanistan but, you know what, we just sort of stay out of john's way. how many times have we heard that? >> a lot. it's disturbing. >> we hear it all the time. they stay out of his way. are they going to blindly follow and, again, i l
we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and,...
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warren buffett said 15.5% yesterday is coming in as revenue. i have heard lower figures. that is the reality of what has happened. we have seen a decline in tax revenue and an increase in spending for a variety of reasons. if we are serious about deficit reduction, we have got to move back the golden 19.6%. let's talk for a minute about what has happened. the chairman of the appropriation committee. let's take a look at where the art today compared to where we were in fiscal year 2001 when the federal government ran a $128 billion surplus. compared to the 2001 figure, we are spending less on non- security concessionary spending than we were. the growth in spending has not been in the non-defense discretionary. the cost of security programs in that same time period has gone up 60%. the cost of mandatory programs is up 30%. i want to call your attention to one aspect progressives need to remind people. of the $1.50 trillion already in spending cuts, $900 billion comes from spending. we have given far more than when it comes to defense side. let's talk about those for a minu
warren buffett said 15.5% yesterday is coming in as revenue. i have heard lower figures. that is the reality of what has happened. we have seen a decline in tax revenue and an increase in spending for a variety of reasons. if we are serious about deficit reduction, we have got to move back the golden 19.6%. let's talk for a minute about what has happened. the chairman of the appropriation committee. let's take a look at where the art today compared to where we were in fiscal year 2001 when the...
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this is a stock with renewed focus because it is warren buffett's -- one of his latest additions. small stake but he did add. >> $143 million. "the journal" takes a crack at why you would want it. secular advances in need for global grain output, emerging markets and so ford. along his burlington northern play. he adds to the position down the road. it's only a 1% stake right now. >> where are we in terms of -- i know the company put outlook looking 5% increase for full year 2013 in equipment sales, 10% for the first quarter and $3.2 billion. how does that figure -- >> in line with what wall street was expecting. revenue guidance, growth guidance, that was a little stronger than was expected. this stock has had a monster run since its last earning report back in august. it's up 18% since the end of september. an outperformer relative to the broader market. the question is, is this a pullback, not only because the eps missed but also because they had a big run of late. . are people simply taking profits here? >> we don't talk a lot before greece because there's a lot we don't know.
this is a stock with renewed focus because it is warren buffett's -- one of his latest additions. small stake but he did add. >> $143 million. "the journal" takes a crack at why you would want it. secular advances in need for global grain output, emerging markets and so ford. along his burlington northern play. he adds to the position down the road. it's only a 1% stake right now. >> where are we in terms of -- i know the company put outlook looking 5% increase for full...
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warren buffett can help them out. lori rothman and melissa francis with more coming up. dagen: the market is up, that is good. good afternoon read >> pushing for middle-class tax cuts without any spending concessio concessions, president obama to meet with business leaders on the fiscal cliff after speaking just last hour. we'll ask lou dobbs that he thinks ceos will help to make deals happen. >> now washington is looking at the one sacred mortgage deduction, maybe get rid of it to help heal the budget crisis. >> charlie gasparino on the future of the firm. time for stocks as we do every 15 minutes, before the new york stock exchange, nicole petallides on the floor. a deal is possible by christmas. >> hoping to get some positive comments from john boehner. he is optimistic. a nice little boost. from negative to positive to the session highs, no 50 points away from dow 13,000 once again. the dow once again up 73 points. you have a lot of winners. the banking index is still under some pressure, but retailers are really stealing the show. many are doing well for a variety o
warren buffett can help them out. lori rothman and melissa francis with more coming up. dagen: the market is up, that is good. good afternoon read >> pushing for middle-class tax cuts without any spending concessio concessions, president obama to meet with business leaders on the fiscal cliff after speaking just last hour. we'll ask lou dobbs that he thinks ceos will help to make deals happen. >> now washington is looking at the one sacred mortgage deduction, maybe get rid of it to...
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. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on people who are productive or have a couple of good years in their business. i think all of that discourages economic growth and discourages risk taking and entrepreneurship. so i'm in favor of moving in the direction of a flatter tax system. of fewer brackets, lower rates, simplicity where we get rid of all the distortions that happen in the tax code, rather than speculating about how many different new brackets we should create. >> i want to get to benghazi. on taxes you talk about closing loopholes and reducing destructions. grover norquist says that would
. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on...